What Byrne Hobart Thinks About Everything — Part Two
Village Global Podcast
00:00
The Relationship Between Religion and Finance
Bubbles start when there's some innovation in capital markets or innovation in real economy that leads to rapid wealth creation. Eventually too many people are chasing the same assets, prices get all out of whack and then prices collapse. The process of taking a bubble and blaming some one person or blaming a small number of people for the collapse of the bubble is exactly backwards. So we should reverse order and say that you can blame a small group of people for creating an economic bubble.
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